Elastic (NYSE:ESTC) CFO Sells $487,605.25 in Stock

Elastic (NYSE:ESTC) CFO Janesh Moorjani sold 6,941 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $487,605.25. Following the sale, the chief financial officer now owns 195,550 shares in the company, valued at $13,737,387.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Elastic Price Performance

Shares of ESTC traded up $1.00 during trading hours on Tuesday, reaching $72.10. The company had a trading volume of 1,286,644 shares, compared to its average volume of 1,348,552. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The firm has a 50 day simple moving average of $104.14 and a 200-day simple moving average of $105.50. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 136.04 and a beta of 0.95.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.10. The company had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.35) earnings per share. Research analysts expect that Elastic will post -0.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Truist Financial dropped their price objective on shares of Elastic from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Robert W. Baird downgraded Elastic from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $135.00 to $95.00 in a report on Friday, August 30th. JPMorgan Chase & Co. reduced their price objective on shares of Elastic from $138.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Rosenblatt Securities reiterated a “buy” rating and set a $136.00 price target on shares of Elastic in a research note on Tuesday, August 27th. Finally, Piper Sandler dropped their price objective on Elastic from $131.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ESTC. Asset Dedication LLC grew its stake in Elastic by 1,333.3% in the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after acquiring an additional 280 shares during the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of Elastic in the second quarter valued at about $40,000. Quarry LP acquired a new stake in shares of Elastic in the second quarter valued at approximately $40,000. Lynx Investment Advisory purchased a new position in shares of Elastic during the 2nd quarter worth approximately $43,000. Finally, Signaturefd LLC raised its position in shares of Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.